President Bola Tinubu has advised Nigerians to step up their management skill in reducing electricity bills.
“It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage,” Tinubu said on Monday in a chat with reporters at his Bourdillon residence in the highbrow Ikoyi area of Lagos State.
The All Progressives Congress (APC) chieftain also said he does not believe in price control and he won’t go that path. “I don’t believe in price control, we will work hard to supply the market,” he said.
After his inauguration in May 2023, Tinubu, former Lagos governor, energy costs skyrocketed, especially with the removal of petrol subsidy and electricity tariff hikes. Petrol prices more than quadrupled, soaring from less than N200 per litre to over N1,100 in many parts of the country. The naira also took a nosedive, wobbling from around N700/$ to N1,600.
On April 3, 2024, the electricity regulator raised the tariff for customers said to be under the Band A classification, with customers now paying N225 kilowatt per hour from N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.
Food and commodity inflation have skyrocketed as Nigerians battle what can pass for the worst cost of living crisis since the country’s independence over six decades ago but Tinubu has insisted that his reforms are necessary to set the country on the path of prosperity.